E.l.f. Beauty recently signed a definitive agreement to acquire celebrity skincare brand Rhode, founded by Hailey Bieber, in a $1 billion megadeal.

The agreement includes $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe.

"e.l.f. Beauty found a like-minded disruptor in rhode," e.l.f. Chair and CEO Tarang Amin wrote in a statement. "rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company. rhod

See Full Page